EVERTEC, Inc 8-K, filed Dec 17, 2020
EVERTEC, Inc. (EVTC)
8-K
2020-12-17
For: 2020-12-17
View Original
Added on
April 11, 2026
About this 8-K
EVERTEC, Inc filed this 8-K on December 17, 2020.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): December 17, 2020
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
| (State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification number) | ||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
(787 ) 759-9999
(Registrant’s telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last report)
COMMISSION FILE NUMBER 001-35872
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of Class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Item 8.01 Other Events.
On December 17, 2020 the Company issued a press release announcing that the Company's Board of Directors had approved an increase and an extension to the existing share repurchase program. The increase will allow the Company to repurchase up to $100 million and the program was extended to December 31, 2023. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
| Number | Exhibit | |||||||
| 99.1 | Press Release re: Increases and Extends Share Repurchase Authorization issued by EVERTEC, Inc. dated December 17, 2020 | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EVERTEC, Inc. | ||||||||
| (Registrant) | ||||||||
| Date: December 17, 2020 | By: | /s/ Joaquin A. Castrillo-Salgado | ||||||
| Name: Joaquin A. Castrillo-Salgado | ||||||||
| Title: Chief Financial Officer | ||||||||
EXHIBIT INDEX
| Number | Exhibit | |||||||
| 99.1 | ||||||||
EVERTEC Board Increases and Extends Share Repurchase Authorization
SAN JUAN, PUERTO RICO – December 17, 2020 - EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that its Board of Directors approved an increase and extension to the share repurchase authorization to an aggregate of $100 million and expiration date of December 31, 2023. Prior to these amendments, the share repurchase program had approximately $23 million remaining and was expiring on December 31, 2020. The Company may repurchase shares in the open market, through accelerated share repurchase programs, 10b5-1 plans, or in privately negotiated transactions, subject to business opportunities and other factors. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of EVTC shares and general market and economic conditions.
Mac Schuessler, President and Chief Executive Officer stated, “I am pleased to announce that our Board of Directors has authorized an extension and increase to our share repurchase plan demonstrating confidence in our business strategy and focus to deliver additional value to shareholders. Our financial flexibility, underscored by a strong balance sheet and cash flows, allows us to opportunistically return capital to shareholders while also making strategic investments to pursue growth.”
About EVERTEC
EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Puerto Rico, the Caribbean, and Latin America providing a broad range of merchant acquiring, payment processing and business solutions services. The Company manages a system of electronic payment networks that process more than two billion transactions annually and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. In addition, Evertec owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions. For more information, visit www.evertecinc.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of EVERTEC to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by, or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” and “plans” and similar expressions of future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements.
Various factors that could cause actual future results and other future events to differ materially from any that may be expressed as forward-looking statements.
Consideration should be given to the areas of risk described under the headings “Forward-Looking Statements” and “Risk Factors” in the reports the Company files with the SEC from time to time, in connection with considering any forward-looking statements that may be made by the Company and its businesses generally. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless the Company is required to do so by law.
Investor contact
Kay Sharpton
(787) 773-5442
IR@evertecinc.com